CEO Armen Gabrielyan

2014-05-06

Dear member-shareholders,

The general annual meeting of “Farm Credit Armenia” UCO CC – the only credit cooperative in Armenia – will take place on May 13th, 2014. This year, the annual general meeting will be held in the format of regional meetings. This year, the general annual meeting is special also for the following reason: besides the activity reports, elections of board members will be held in Ararat, Armavir, Syunik, Vayots Dzor, Kotayk and Tavush marzes. Today, “Farm Credit Armenia” UCO CC Board is comprised of 9 members, 7 of which are selected on a regional principle by the member-shareholders. The remaining two are appointed by the board as independent, invited professional experts. In regard to this important occasion, I address my message to the member-shareholders of the cooperative, board members and FCA staff. Our progress of the previous 7 years is obvious. Remaining loyal to our vision, we have our unique place in credit organizations of RA and we are already known in rural agro lending segment. If I am to mention one achievement, it will be the following: We are the second in the “SME Finance Accessibility” project of Central bank in terms of credit amounts and quantity (7,350,000,000 AMD and around 4 thousand borrowers). We launch this general meeting with 1.050 million AMD equity, more than 6 billion AMD credit portfolio and, what is most important, we have a powerful team of 3850 member-shareholders. With the help of the staff members and the board, we are now moving forward with confidence by overcoming the skepticism and doubt, envy and barriers that initially existed towards FCA. Trust comes from the realization of the fact that the credit needs of the rural residents can be addressed only with a cooperative that belongs to the large portion of the population. It is very important what board we will develop after the board elections. Being the general implementer of the cooperative activities, its coordinator, the board has a crucial role in decision making regarding strategic issues of the organization. The role and importance of each board member is evaluated based upon his/her knowledge, devotion to cooperative values ad readiness to serve the progress of the cooperative. According to our charter, the nominating committee has nominated several candidates for each mandate. I encourage you to follow the principle of choosing the best candidate when going to the elections. You should vote for the candidate that has worked hard, is responsible, has unbiased attitude, high level of professionalism and deep understanding of cooperative management and development issues. Finalizing my message, I would like to thank the board members who have finished their service in the board: Seryozha Hayrapetyan, Ashot Zakaryan, Vahram Harutyunyan, Nver Poghosyan, Gevorg Mikayelyan.

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